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  • Retirement Strategy: A Dividend Aristocrat REIT That Is Right For Retirement Portfolios [View article]
    Sounds like NOT was accidentally omitted. Otherwise, I agree - huh?
    Jan 4, 2015. 01:36 PM | 1 Like Like |Link to Comment
  • Retirement Strategy: A Dividend Aristocrat REIT That Is Right For Retirement Portfolios [View article]
    Praveen,

    What every investor 'should' do is not up to you to decide. Everyone has their own unique situation and their own unique process to meet their needs.
    Jan 4, 2015. 01:34 PM | 6 Likes Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    surfgeezer,

    According to a December 2014 analysis by Wells Fargo, middle market yields have been increasing since a multi-year low in the March 2014 quarter.
    Jan 4, 2015. 03:15 AM | Likes Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    CFOTOCEO,

    I simply reported a fact - the NASDAQ short interest report.

    It would be very interesting to know the reported short interest when you are next short. For all I know, NASDAQ may not know the total short interest. I have no way to test their accuracy since I am not a short seller. If NASDAQ does not see all of the short interest, I think many besides me would like to know. How about leaving a comment here when you next go short, and we can see what NASDAQ says. Agreed?
    Jan 4, 2015. 03:00 AM | 1 Like Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    CFOTOCEO,

    We have a miscommunication here. I have never tried to short BDCL.
    Jan 3, 2015. 02:24 PM | 1 Like Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    surfgeezer,

    "Also the BDC's are facing more loan competition"

    I think you got this one wrong. A number of BDCs have recently reported that competition from banks is decreasing. See the MCC presentation about banks' level 3 assets[1].

    [1]http://bit.ly/JciNTx;item=VHlwZT0yfFBhcmVu...
    Jan 3, 2015. 01:21 PM | 2 Likes Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    "the person mentioned a potential for the Dividend to decrease"

    That is true. The person was probably Lance Brofman, but could have been me. The cause of the drop in dividend would be the monthly leverage reset. If the indicative value is less on the last trading day of the month than it was the last trading day of the prior month, then the leverage reset process means that the dollar amount of leverage is reduced. That reduction causes some of the underlying assets to be sold, which reduces the absolute amount of the forward dividend to be received. Since you own the same number of shares after the reset as before, your absolute dividend amount decreases.

    This same process acts to increase the absolute dividend amount when the indicative value changes to the plus side. More leverage, more invested $, more absolute dividend $.

    "Unfortunately, there is no mention of what holdings BDCL is selling."

    UBS does not reveal how they invest the proceeds from selling BDCL bonds. However, from a number of statements in the product and pricing supplements, it is very clear that UBS invests the funds in the constituents of the Wells Fargo BDC Index, using the index weights.
    Jan 3, 2015. 01:08 PM | 3 Likes Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    FCARONE,

    I have the same question for CFOTOCEO. BDCL does not have options (both Wells Fargo and Fidelity show no option chain), and there is no short interest[1].

    [1] http://bit.ly/1wN8d7d
    Jan 3, 2015. 12:59 PM | 2 Likes Like |Link to Comment
  • Why The UBS-ETRACS 2X High-Income ETN Is A Poor Choice [View article]
    COBeeMan,

    I agree with you. These products are variable coupon debt instruments with high standard deviation. If you understand that, then you have made a start on intelligently deciding if you want to own them.

    For comparison, the 3 year standard deviation of MLPL is 26.72, and MCD is 10.78. OTOH, the 3 year total return of MLPL is 25.67% and MCD is 0.73%. (Source: Morningstar).
    Jan 3, 2015. 12:45 PM | 1 Like Like |Link to Comment
  • Dividend Growth Investing IS Total Return Investing [View article]
    Chowder,

    "A back test displays zero emotion and we are incapable of that."

    Your entire comment is one of the best I have ever read.
    Jan 2, 2015. 01:02 PM | 1 Like Like |Link to Comment
  • Prospect Capital Or Medley Capital? [View article]
    There is a steady stream of comments and articles about rising rates. I found this article about the TIPS market [1] to be an interesting counterpoint. Look at the forecasts for inflation out to various times in the future. They are all predicting very low inflation. For example, the last CUSIP in the article shows that the TIPS market is forecasting 1.853% inflation over the next 10 years. With inflation that low, why will we also have significantly rising rates? I can understand modest increases, but nothing particularly significant.

    [1] http://seekingalpha.co...
    Jan 2, 2015. 12:56 PM | 2 Likes Like |Link to Comment
  • Top 10 BDC Issues For 2015: Part 2 [View article]
    I have just been reading 'Security Analysis' by Graham and Dodd, and in the common stock chapters are examples of the investment trusts that existed when the stock market crashed in 1929, and how the sponsors of those trusts typically sucked a major portion of public investor's money into their own pockets, thus making it virtually impossible for the investors to realize a profit, and leading to the eventual collapse of the trusts. The situations at MCC and PSEC are not that bad, but they have a faint whiff, and the question by Bock nails the situation.
    Jan 2, 2015. 04:02 AM | 2 Likes Like |Link to Comment
  • 2015 Outlook: Pain [View article]
    Steve,

    Similar experience here. My recent IRA rollover is at 70% cash and I see zero buying opportunities at today's prices.
    Dec 31, 2014. 02:55 PM | 7 Likes Like |Link to Comment
  • BDCL Next Quarterly Dividend Will Result In A 20.2% Yield [View article]
    Gordon,

    Thanks for that link.

    Have a happy new year! ;-)
    Dec 31, 2014. 01:05 PM | Likes Like |Link to Comment
  • Higher Dividends With Less Risk (Part 3): Global X SuperDividend U.S. ETF [View article]
    There are many ways to do your own due diligence. If you do your own, you will not be (as) dependent on the opinions / research of others. Some suggestions:

    1) Create a portfolio on Morningstar and create a custom view with the data points you care about.

    2) Use Dividend Channel[1] to compare any two ETFs / stocks.

    [1] http://bit.ly/1FXPr5w
    Dec 30, 2014. 06:32 PM | 5 Likes Like |Link to Comment
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